Asia-Pac Mixed As Chinese & Hong Kong Equities Struggle

Australian equities led gains in Asia-Pac dealing, adding 1.1%, while the KOSPI and Nikkei 225sit flat & 0.2% higher, respectively, near the end of Tuesday trade.

• Mainland Chinese benchmarks and the Hang Seng diverged from their major regional counterparts, with the CSI 300 and Hang Seng both printing 1.6% worse off on the day at typing. The CSI 300 now sits at levels not witnessed since Sep 2020, as continued headwinds for the Chinese economy weigh on sentiment. Chinese-linked high beta tech struggled on the day. The Hang Seng Tech Index sits 2.2% worse off, while the ChiNext is ~4% lower on the session. This comes on the back of a negative lead from the U.S. tech space (although Monday’s NASDAQ losses weren’t as severe)
• E-minis are virtually unchanged at typing, paring early gains.